|Market Close||Market Close|
|Upward movement could be observed across the gas curve yesterday despite a balanced system. Cooler weather was expected to continue today which will keep demand levels above the seasonal norm, although the end of planned outages in Europe resulted in improved supply. Prices at the back of the curve continued to increase with direction coming from bullish Brent.||Low wind generation and colder temperatures were forecast for today, helping the prompt record a strong gain. The rest of the curve also displayed gains due to tighter gas supply, while the far-curve was dictated by increases on fuel markets.|
|Market Open||Market Open|
|Day-Ahead gas has climbed higher this morning as the system has opened 14mcm short, with cooler temperatures and weak renewable power generation continuing to raise demand levels. In terms of supply, St Fergus flows are healthy but Langeled output is slightly down. Meanwhile, oil prices display a small gain, offering some support at the back of the curve.||The prompt displays a strong loss this morning due to a warmer weather forecast for the weekend which will weigh on consumption levels. Renewable generation should also improve next week, which will reduce CCGT demand. Further out, contracts display a bullish trend on the back of rising coal and oil markets.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent has moved slightly higher this morning, following on from strong gains over the last few sessions due to tensions in the Middle East; Brent currently trades just below $72.3/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 49.20ppt and £49.60/MWh, respectively.
Today’s prices can also be found in an easy to read table on our ‘current UK energy price' page.
Click graph to enlarge
If you would like to learn more about how Apollo Energy can help your business find the best deal on its gas and energy contracts then feel free to get in touch by calling us on 01257 239500 or using the form on our contact form.